The potential for a December Federal Reserve rate cut cited for gold price bounce

ANZ on gold, a note highlighting:

• gold prices higher on the prospect of a December Fed rate cut after the US personal consumption expenditure data earlier in the week came in line with expectations
• pricing up around a 70% chance for a 25bps rate cut in December, from just over 50% a week ago
• geopolitical tensions in Europe after Russia’s missile attack on Ukraine is also a tailwind for safe-haven asset

This article was written by Eamonn Sheridan at www.forexlive.com.